Tips for Selling Your Home

Consider Exploring the iBuyer Option: Convenience vs. Equity

~ bwebster

In today’s fast-paced real estate market, homeowners are increasingly considering alternative selling methods. One option gaining traction is selling to an iBuyer company. These tech-driven real estate firms offer a quick, streamlined process for homeowners looking to sell their properties. But like any major financial decision, selling to an iBuyer comes with its own set of advantages and disadvantages. Let’s explore the key factors to consider when weighing this modern selling approach against traditional methods.

Pros of Selling to an iBuyer

Speed and Convenience – iBuyers have revolutionized the selling process by offering remarkably fast transactions, often closing within 10-14 days. This rapid turnaround is a game-changer for sellers who need to relocate quickly or want to avoid the prolonged process of traditional home selling. It’s particularly appealing for those facing time-sensitive situations like job transfers or family emergencies.

Simplified Process – The iBuyer model has transformed the home selling experience into a predominantly online transaction. This digital approach eliminates the need for time-consuming tasks such as staging, hosting open houses, and accommodating multiple showings. For sellers who value privacy or have hectic schedules, this streamlined process can be a significant relief, allowing them to sell their home with minimal disruption to their daily lives.

Cash Offers – One of the most attractive features of iBuyers is their ability to make all-cash offers. This financial flexibility can be a crucial advantage for sellers who need immediate liquidity or are looking to make a contingency-free offer on their next home. Cash offers also typically mean faster closings and fewer potential complications, providing sellers with a higher degree of certainty in their transactions.

As-Is Purchase – iBuyers often purchase homes in their current condition, without requiring sellers to make repairs or upgrades. This feature can be particularly beneficial for homeowners with properties in less-than-perfect condition or those who lack the time or resources to prepare their home for traditional market listing. It allows sellers to avoid the stress and expense of pre-sale renovations, which can be substantial in some cases.

Cons of Selling to an iBuyer

Lower Sale Price – While iBuyers offer convenience, it often comes at a cost. These companies typically offer below-market prices for homes, with sellers potentially receiving less than they might through traditional methods. This pricing strategy allows iBuyers to quickly resell properties for a profit, but it means sellers may be leaving money on the table. In hot markets or for unique properties, this difference could be even more significant.

Higher Fees – The convenience of iBuyer services often comes with higher transaction fees compared to traditional real estate commissions. These fees can reach up to 13% of the home’s price, significantly eating into the seller’s proceeds. While traditional real estate commissions typically range much less, iBuyer fees encompass various services and risk factors, resulting in a higher overall cost to the seller.

Limited Negotiation – iBuyers rely heavily on computerized models to determine offer prices, leaving little room for negotiation. This approach means sellers are often presented with a take-it-or-leave-it offer, unlike in traditional sales where there’s often back-and-forth between buyers and sellers. For homeowners who believe their property has unique value or features that an algorithm might not capture, this lack of flexibility can be frustrating.

Lack of Representation – When selling to an iBuyer, homeowners forgo the personalized guidance and local market expertise that comes with working with a real estate agent. While this might appeal to some, others may miss the nuanced advice and emotional support that an experienced agent can provide throughout the selling process. This lack of personal interaction and the fiduciary relationship with an agent can be particularly challenging for first-time sellers or those dealing with complex property situations.

Availability Limitations – iBuyer services are not universally available and often have specific criteria for the homes they purchase. This limitation means that many homeowners, particularly those in rural areas or with unique properties, may not have access to this selling option. Additionally, iBuyers typically focus on homes within certain price ranges and conditions, further restricting their availability to a subset of the market.

While selling to an iBuyer offers undeniable convenience in terms of time and effort, it’s crucial for homeowners to recognize the financial trade-offs involved. The streamlined process and quick closing can be attractive, especially for those in time-sensitive situations.

However, the convenience often comes at the cost of a discounted sale price, potentially resulting in sellers not realizing the maximum equity from their homes. Homeowners must carefully weigh the value of a faster, easier sale against the possibility of a higher return through traditional methods.

Ultimately, the decision should align with the seller’s specific circumstances, financial goals, and market conditions. For those prioritizing top dollar over speed, working with a skilled real estate agent to navigate the traditional market might be the better choice to maximize their home’s value.

A Smart Strategy: Using Seller Concessions To Get Your House Sold

~ bwebster

For the past few years, it’s been mostly a seller’s market. But dynamics are shifting as the number of homes for sale grows. And that means that the market is balancing out a bit. As a result, some sellers are finding they need to be more flexible to close a deal. One strategy that can help? Offering concessions.

As the National Association of Realtors (NAR) explains:

“As home inventory begins to grow and buyers regain some advantage in the market, sellers may consider offering more in negotiations to make the deal more attractive and get to the closing table.”

What Are Seller Concessions? 

Concessions are homebuying costs that a seller agrees to cover as a way to get their house sold. And based on data from the National Association of Realtors (NAR), nearly 1 out of every 4 sellers (24%) offered a concession in 2024. Here are a few of the most common types of concessions:

  • Covering Closing Costs: The seller pays for part (or all) of the buyer’s closing costs, like appraisal fees, title insurance, or loan fees.
  • Price Adjustments: Instead of making repairs, a seller might lower the purchase price to make up for updates the buyer will need to tackle.
  • Adding a Home Warranty: A seller may throw in a home warranty, giving the buyer peace of mind key repairs will be covered in the first year.

And don’t worry. This doesn’t mean you have to come up with more cash to make it happen. These are things that get subtracted from your profits at closing – not more funds you have to bring to the table.  And not all concessions are about money.

There are other extras you could throw in. Like, if your buyer is coming from an apartment and has never had a yard before, they may ask if you’d be willing to leave your lawn mower behind. That’s another lever you could pull to keep them happy.

How Concessions Help Sellers 

Offering concessions can be a smart strategy for sellers to get a deal done. As Dennis Shirshikov, Professor of Finance and Economics, City University of New York/Queens College told The Mortgage Reports:

“Pricing homes realistically and being willing to offer concessions, such as covering a portion of closing costs or including upgrades, will be key to closing deals . . . in a less frenzied market.”

For example, let’s say you accepted an offer from a buyer, but after their inspection, you found out there are some repairs they want you to tackle before you hand over the keys.

Rather than starting at square one and searching for a new buyer, you could offer a concession. One option is you can take on the repairs and cover the costs yourself. But, if you really don’t want the hassle of dealing with contractors, you could reduce your price by however much repairs would cost. Alternatively, you could offer to pay a portion of your buyer’s closing expenses with the idea they’d use the money they saved at closing toward doing the repairs themselves.

Either way, a concession can be a great way to meet in the middle. However, it’s important to have an agent on your side to help with these negotiations.

A good real estate agent can help you decide when and how to offer concessions, so you don’t give away too much while still ensuring your house gets sold. It’s all about finding the right balance.

Bottom Line

With the market becoming more balanced, seller concessions are coming back into play in some areas. The key is having an agent to help guide you through the process, so things work out in your favor. That’s where I come in.

What’s a concession you’d consider to move things along?

Are You Asking These Questions About Selling Your House?

~ bwebster

Some homeowners hesitate to sell because they’ve got unanswered questions that hold them back. But a lot of times their concerns are based on misconceptions, not facts. And if they’d just talk to an agent about it, they’d see these doubts aren’t necessarily a hurdle at all.

If uncertainty is keeping you from making a move, it’s time to get the real answers. The ones you deserve. And to take the pressure off, you don’t have to ask the questions, because here’s the data that answers them.

1. Is It Even a Good Idea To Move Right Now? 

If you own a home already, you may be tempted to wait because you don’t want to sell and take on a higher mortgage rate on your next house. But your move may be a lot more feasible than you think, and that’s because of how much your house has likely grown in value.

Think about it. Do you know anyone in your neighborhood who’s sold their house recently? If so, did you hear what it sold for? With how much home values have gone up in recent years, the number may surprise you. According to Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), the typical homeowner has gained $147,000 in housing wealth in the last five years alone.

That’s significant – and when you sell, that can give you what you need to fund your next move.

2. Will I Be Able To Find a Home I Like? 

If this is on your mind, it’s probably because you remember just how hard it was to find a home over the past few years. But in today’s market, it isn’t as challenging.

Data from Realtor.com shows how much inventory has increased – it’s up nearly 25% compared to this time last year (see graph below):

a graph of a sales reportEven though inventory is still below more normal pre-pandemic levels, it’s improved a lot in the past year. And the best part is, experts say it’ll grow another 10 to 15% this year. That means you have more options for your move – and the best chance in years to find a home you love.

3. Are Buyers Still Buying?

And last, if you’re worried no one’s buying with rates and prices where they are right now, here’s some perspective that can help. While there weren’t as many home sales last year as there’d be in a normal market, roughly 4.24 million homes still sold (not including new construction), according to the National Association of Realtors (NAR). And the expectation is that number will rise in 2025. But even if we only match how many homes sold last year, here’s what that looks like.

  • 4.24 million homes ÷ 365 days in a year = 11,616 homes sell each day
  • 11,616 homes ÷ 24 hours in a day = 484 homes sell per hour
  • 484 homes ÷ 60 minutes = 8 homes sell every minute

Think about that. Just in the time it took you to read this, 8 homes sold. Let this reassure you – the market isn’t at a standstill. Every day, thousands of people buy, and they’re looking for homes like yours.

Bottom Line

When you’re ready to walk through what’s on your mind, I have the answers you need. And in the meantime, tell me: what’s holding you back from making your move?

3 Big Mistakes Sellers Are Making Right Now

~ bwebster

If you want to sell your house, having the right strategies and expectations is key. But some sellers haven’t adjusted to where the market is today. They’re not factoring in that there are more homes for sale or that buyers are being more selective with their budgets. And those sellers are making some costly mistakes.

Here’s a quick rundown of the 3 most common missteps sellers are making, and how partnering with an expert agent can help you avoid every single one of them.

1. Pricing the Home Too High

According to a survey by John Burns Real Estate Consulting (JBREC) and Keeping Current Matters (KCM), real estate agents agree the #1 thing sellers struggle with right now is setting the right price for their house (see graph below):

a graph of salesAnd more often than not, homeowners tend to overprice their listings. If you aren’t up to speed on what’s happening in your local market, you may give in to the temptation to price high so you can have as much wiggle room as possible to negotiate. You don’t want to do this.

Today’s buyers are more cautious due to higher rates and tight budgets, and a price that feels out of reach will scare them off. And if no one’s looking at your house, how’s it going to sell? This is exactly why more sellers are having to do price cuts.

To avoid this headache, trust your agent’s expertise from day 1. A great agent will be able to tell you what your neighbor’s house just sold for and how that impacts the value of your home.

2. Skipping Repairs

Another common mistake is trying to avoid doing work on your house. That leaky faucet or squeaky door might not bother you, but to buyers, small maintenance issues can be red flags. They may assume those little flaws are signs of bigger problems — and it could cost you when offers come in lower or buyers ask for concessions. As Investopedia says:

“Sellers who do not clean and stage their homes throw money down the drain. . . Failing to do these things can reduce your sales price and may also prevent you from getting a sale at all. If you haven’t attended to minor issues, such as a broken doorknob or dripping faucet, a potential buyer may wonder whether the house has larger, costlier issues that haven’t been addressed either.”

The solution? Work with your agent to prioritize anything you’ll need to tackle before the photographer comes in. These minor upgrades can pay off big when it’s time to sell.

3. Refusing To Negotiate

Buyers today are feeling the pinch of high home prices and mortgage rates. With affordability that tight, they may come in with an offer that’s lower than you want to see. Don’t take it personally. Instead, focus on the end goal: selling your house. Your agent can help you negotiate confidently without letting emotions cloud your judgment.

At the same time, with more homes on the market, buyers have options — and with that comes more negotiating power. They may ask for repairs, closing cost assistance, or other concessions. Be prepared to have these conversations. Again, lean on your agent to guide you. Sometimes a small compromise can seal the deal without derailing your bottom line. As U.S. News Real Estate explains:

“If you’ve received an offer for your house that isn’t quite what you’d hoped it would be, expect to negotiate . . . the only way to come to a successful deal is to make sure the buyer also feels like he or she benefits . . . consider offering to cover some of the buyer’s closing costs or agree to a credit for a minor repair the inspector found.”

The Biggest Mistake of All? Not Using a Real Estate Agent

Notice anything? For each of these mistakes, partnering with an agent helps prevent them from happening in the first place. That makes trying to sell your house without an agent’s help the biggest mistake of all.

Bottom Line

Avoid these common mistakes by starting with the right plan — and the right agent. Let’s connect so you don’t fall into any of these traps.